This is one of the top mistakes I see entrepreneurs make when they are looking to grow.
They do what they are already comfortable doing.
That's not necessarily a bad thing, but when it comes to your numbers in business, you want to focus on more so you can see where you are actually GOING instead of looking backward.
Here are some signs you are relying too much on your rearview mirror in business:
You repeat the same tactics that worked for your last launch but they don't seem to be working again
You pay taxes after the year is over
You manage your business finances using outdated metrics
Not only can you not rely on old information to run your business, you also can't always be playing catch-up with your taxes. The goal is to be in a position where you are paying taxes as you are earning the income and not waiting until after the fact.
So many business owners do not plan for taxes and take a reactive approach. If you are paying what you owe in April, you are actually behind. These represent late payments. It is ideal that you have an accountant advise on paying estimated taxes during the year so that you are caught up with payments and not seeing any surprises.
Want to start managing your business looking forward? Text me (Shannon) at 860-609-6374 and tell me about your business!